Where Is All The Gold?

Ever since, well since forever, gold has made the world go round. There was a day when any money printed had to have gold backing it; not so now days. That is why the world's economy is in a major tailspin.

I was in a curious mode and wondered where all the world's gold is.

When I look back upon the days of the Bible and King Solomon, I read how the made so many items out of gold.

It is my opinion that we need to go back to a gold standard. Everything should operate with precious metals covering it. I don't just mean gold. This can be silver, platinum, copper and many others. mercury is even considered precious.

So who has the gold? I know there are investors that have some gold such as coins and maybe even some bullion. There is a lot of gold out there and there are mines still pulling gold out of the ground.

Lets take a look at who has the most gold in this world. This is the top ten gold owners.

Japan

At number 10 is the country of Japan.

Tons: 843.5

Value: $39.36 Billion

Where is it or who is controlling it: Bank of Japan

Russia

At number 9 is the country of Russia. They seem to have quite a few gold mines, so they are pulling more gold out. Their production of gold is up 21%.

Tons: 960.1

Value: $44.8 Billion

Where is it or who is controlling it: Central Bank of the Russian Federation

Switzerland

At number 8 is the country of Switzerland.

Tons: 1,146.5

Value: $53.5 Billion

Where is it or who controls it: Swiss National Bank

China

At number 7 is the country of China. I assumed it would be higher considering their population.

Tons: 1,161.9

Value: $54.22 Billion

Where it is or who controls it: Top Secret

SPDR (GLD)

At number 6 is no country. It is actually a company, and you can buy shares into this company and be a part-owner. This is a way you can own gold without actually having it on your person. I am putting a link to SPDR (GLD) at the right>

Tons: 1,213.9

Value: $64.53 Billion

Where it is or who controls it: SPDR

France

At number 5 is the country of France.

Tons: 2,684.6

Value: $125.28 Billion

Where it is or who controls it: Banque De France

Italy

At number 4 is the country of Italy.

Tons: 2,702.6

Value: $126.12 Billion

Where it is or who controls it: Banca D'Italia


International Monetary Fund

At number 3 is the IMF. In a way, they are like a world bank that makes loans to poor countries and is supposedly trying to help the world's economy. I have my opinions about this, but that is a completely different hub and subject.

Tons: 3,101

Value: $144.76 Billion

Where is it or who controls it: International Monetary Fund

Germany

At number 2 is the country of Germany.

Tons: 3,743.7

Value: $174.7 Billion

Where it is or who controls it: The Deutsche Bundesbank

United States

The number 1 holder of gold is the country of the United States. Of course, there are gold mines still producing more.

Tons: 8,965.6

Value: $418.39 Billion

Where it is or who controls it: The majority is at Fort Knox. The rest is split between the Philadelphia Mint, the Denver Mint, the West Point Bullion Depository and the San Francisco Assay Office.

Conclusion

Gold has been used as money for thousands of years. He who owns the gold has the power and essentially controls those who don't have gold.

It is my opinion that if you don't own any gold, you should.

Right now, gold is selling for $1583 an ounce. I remember just a few years ago when it was $400 an ounce. I kick myself for not spending a few thousand dollars on gold.

Do you have gold? Maybe silver would be an easier investment for you. The key is, precious metals will always be needed and wanted. I would always tell a person that one of the best buys you can make is a precious metal. Here are the prices of the different ones as of July 6th,2012:

Precious metal prices

(click column header to sort results)
Metal  
Price/Ounce  
Low  
High  
Gold
$1583.40
$1575.40
$1611.20
Silver
$27.20
$26.86
$27.86
Platinum
$1451.00
$1435.00
$1478.00
Palladium
$581.00
$571.00
$592.00

© G.L. Boudonck

Investing In Gold

© 2012 Greg Boudonck

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Comments 1 comment

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Lastheart 4 years ago from Borikén the great land of the valiant and noble Lord

I like the way you wrote this hub. I prefer some rocks from the river than gold...that away I get off my back street thieves and tax thieves.

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